With $60M in New Capital, Jet Edge Eyes Expansion

by Jerry Siebenmark - Aviation International News

Jet Edge International has raised $60 million in equity and debt to expand its services, as well as existing and new locations, the business aviation services provider and charter operator announced yesterday. The investment comes after Jet Edge moved into new California headquarters at Van Nuys Airport (VNY) last year and completed a more recent expansion at Teterboro Airport (TEB) in New Jersey that added 40,000 sq ft of hangar space and 4,000 sq ft of office space.

The new financing, led by Solace Capital Partners, will be used to build out additional infrastructure in new and existing markets, in addition to expanding the company's value-added services to aircraft owners and charter customers, it said. “The new partnership between Jet Edge and Solace Capital is about continuing our commitment to offering our clients the highest levels of service and safety,” said Jet Edge CEO Bill Papariella. “With a strong position in key markets including Southern California, Florida, and the New York metropolitan area, we are excited to continue to build our footprint and portfolio of services for our customers, and are thrilled that Solace Capital supports our vision of becoming a global force in the industry.”

Jet Edge manages a fleet of more than 50 large-cabin and super-midsize aircraft in the U.S. for corporations and ultra-high-net-worth individuals.